All Forum Posts by: Adriese Williams

Long time investor/landlord in NC and SC, let know if you have any questions?

Any update? did you ever receive your funds? I am in a similar situation. I stopped paying the interest on the loan over a year ago. I have written this off as a bad debt, 15K + interest and fees!

Thanks, no eviction, just left it in a mess. 

Can you sell the judgement to a collection agency if you win ?

How do you file a judgement against a tenant for damages beyond the security deposit? My contractor quoted me about $6000 in repairs. Security deposit is $1,200 so about $4,800 in damages. Thanks in advance!

Fill, your insurance rates will be extremely high if you don't properly fill it. If you fix it your rates will still be high. Ask your insurance agent for some advice. No upside with a rental with a pool 

Will refi march 2024, hoping rates will drop by then,  Im at 10% now interest only (still cash flowing)

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $64,000
Cash invested: $12,000

4th buy and Hold in Orangeburg, found on MLS, distress, negotiated price down after inspection.
3 beds, 3 baths, renovation completed in 6 weeks, tenant moved in mid August 2023. $1,300 per month

What made you interested in investing in this type of deal?

4th property in this small college town. I also liked the 3 beds and 3 full baths

How did you find this deal and how did you negotiate it?

MLS, negotiate price down after inspection

How did you finance this deal?

Hard money, Kiavi

How did you add value to the deal?

Renovated, new floors, kitchen, repairs to electrical and plumbing

What was the outcome?

Rented for $1,300 per month, yearly lease

Lessons learned? Challenges?

Appreciation will be long term,but cash flow is strong. Even with double digit interest only Hard money loan. When rates drop, cash flow will be stronger

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Kiavi, for hard money, local agent that I have used previously.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $158,100
Cash invested: $22,000

New Acquisition, 504 Trail One Burlington, NC
1184 sq ft
2 beds/1 bath
over 1/2 acre lot
Convenient to 85/40, 30 mins to Durham, 20 mins to Greensboro
Interested in #learning how to do #realestateinvesting? Contact me
For rent, available August 1st. Thanks Kaivi , Xome
#realestateinvesting #burlingtonrealestate

What made you interested in investing in this type of deal?

Location, condition of the home and the lot size

How did you find this deal and how did you negotiate it?

Online auction, probably paid a little over, but the appreciation will be quick

How did you finance this deal?

Hard money lender and refied a property that I owned, free and clear.

How did you add value to the deal?

Will be adding a tiny home to the back yard for additional rental income

What was the outcome?

Should be rented by August 1st, Interest rate was steep, but I'm "playing long ball"

Lessons learned? Challenges?

Over paid a bit, Interest rate was high but long term appreciation will be good

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

xome, kiavi

None, nobody answers the phone, returns calls or emails @Jorge Newbery